Thrusday May 13, 1999
A few weeks ago, we passed on information to you about the newly formed coalition Americans for Long-Term Care Security (ALTCS). This week, the Center for Long-Term Care Financing finds ourselves sharing space in common mission with ALTCS in the May 3 issue of National Underwriter. Here's the quote:
"Americans for Long-Term Care Security, an Alexandria, VA.-based industry coalition, reported 77 percent of U.S. residents it surveyed favor making the cost of long-term care insurance 100 percent tax deductible.
"Stephen Moses, director of the Center for Long-Term Care Financing, Seattle, argued the best way to increase sales of private long-term care insurance is to wean middle-income Americans off of dependence on Medicare and Medicaid.
"But Mr. Moses said the new state-level LTC tax breaks should send consumers two important messages: 'First, that government can't handle all long-term care costs, and second, that you better take responsibility for yourself.'"
The article also reports: "Lawmakers in Utah, Virginia and West Virginia have enacted tax breaks this year for purchasers of long-term care insurance.
"Lawmakers are continuing to debate similar LTC insurance tax breaks in 20 other states, according to State Net, a Sacramento, Calif., bill tracking service."
Progress may be painfully slow, but at least it is coming.